France Consumer Confidence

France: Consumer slightly more optimistic in December

January 7, 2014

In December, the consumer sentiment index published by the National Statistical Institute (INSEE) increased to 85 points, which was up from the 84 points registered in November and exceeded the 84 points the market had expected. Despite the fact that the indicator now sits at its highest level since February 2013, it remains well below its long-term average of 100 points.

Consumers were less concerned about the labor market; expectations of future unemployment improved, after having deteriorated in November. In addition, consumers' expectations regarding the general economic situation improved in December.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.1% in 2014, which is unchanged from last month's forecast. The panel expects private consumption to accelerate to 1.1% in 2015.

In October, the seasonally-adjusted IHS Markit Composite Purchasing Managers’ Index (PMI) edged up to 54.1 from 54.0 a month earlier, pointing to a roughly stable pace of growth in services- and manufacturing-sector activity.

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